Inside the Equity Markets
Understanding & Trading the Equity Markets
• A reminder of the perils of Equity investing
• Efficient Markets – Are they? Do we live in a ‘Normal’ world?
• What should we be expecting from Equities in the new decade? A look back
• The Equity Risk Premium. Any lessons for the future from the past?
• Corporate Actions – Buybacks, Splits, Rights Issues, Depositary Receipts
• Established Exchanges vs Dark Pool Crossing networks
Case Study – Which are the worlds’ largest Equity Markets?
Active Portfolio Management – Valuation screens
• Which valuation methodology to choose? It depends on the sector
• Price Earnings Ratios & PEGs
• Dividend Yields - Equities as a source of income
• Asset Backed valuation
• Enterprise Values & EBITDA
Case Study – A walk through a New Issue’s Valuation criteria
Passive Portfolio Management - Exchange Traded Funds
• The Active vs Passive debate – a look at the evidence
• Understanding ETFs, the replication mechanism
• Primary (Redemption, Creation process) & Secondary markets
• Different types of ETF – Inverse, Leveraged, Active
• How do Portfolio Managers use ETFs exactly?
• Alternatives to ETFs
Using Derivatives in the Equity Markets
• Exchange Traded vs Over the Counter; for hedging or speculation?
• Equity Index Futures
• Equity Index Swaps
• Equity Options
• Contracts for Difference
Case Study – Wrap-up Quiz